Invisible Money

"I see my role if needed as a financial mentor but one who can show warmth, practicality and empathy."
-Katherine Hann
October 17, 2017

Invisible Money

By Katherine Hann

Invisible Money

I was having a chat at a local fruit and veg shop where the cashier told me that babies under 2 are now tapping to pay while held in their parent’s arms!

It’s really interesting how these things are now more common, and soon this is likely to be the norm – but have we thought about the impact of the impressions that these ‘invisible’ transactions might be having on our kids?

This video by Scott Pape (The Barefoot Investor) is a great little info-graphic on what trends modern payment methods could be setting, and what we might
need to start teaching our kids when we are out and about.

How easy is it to just tap or SMS away at the checkout? If your child is watching you or anyone else, it looks like no one has exchanged any money at all.
Already adults are falling into the trap of paying on the credit card or phone with no thought of a budget.

Change is not always a bad thing, we should embrace it- but we should also make sure children are learning what is taking place when we wave that card
or that phone.

From an early age kids plan for money, spend money, and save money.

It’s important that we teach the younger generation about financial literacy both at school and at home.

Remember: the habits they have as adults stem from what they learned growing up, and they learn best from following by example.